The co.cc's aren't realy top level domains, don't stay free and have a spammy rep, so are of little value. So .infos are a better and more affordable solution. I would tell folks who think they 'own' a domain, however, that you don't, you're just renting a name and address.
As soon as you don't renew you shiny .com, .net or whatever (that is, pay rent to the registrar), poof you don't 'own' it anymore. Or if you have the 'wrong' kind of content and the site was registered through GoDaddy or similar places, they can shut down what you though you 'owned.'